FORTUM CORPORATION ONLINE NEWS 2.12.2022
The European energy market has changed profoundly due to the geopolitical developments in the last nine months. Fortum, the German government and Uniper have signed an agreement in principle on 21 September for a long-term solution that will allow the German State to take full control of Uniper. Upon completion, Fortum divests fully its ownership in Uniper. The agreed transaction is subject to regulatory clearances and eventually the approval by an Extraordinary General Meeting of Uniper.
As a result of the upcoming ownership change, Fortum and Uniper have together agreed to discontinue the OneTeam co-operations that were announced in December 2020. The parties will pursue development and operations in the areas of hydro, wind, solar, hydrogen and physical trading as two separate companies as of 1 December 2022. In hydropower, the discontinuation of the co-operation means that some 160 Fortum employees join Uniper in Sweden on this date. In hydrogen, the development portfolio is divided between the two companies, where the joint venture with Perstorp, Project Air, will be run by Uniper going forward.
Fortum’s priority is to continue to provide energy and secure supply with much needed CO2-free power in the Nordics. Fortum will also grow in new CO2-free power generation and other sustainable solutions in the Nordics. Hydro- and nuclear power are the foundation of Fortum’s CO2-free electricity production. The Nordics provide excellent prospects for growth in wind and solar power development that will play a key role in accelerating the green transition together with hydrogen.
Fortum News Desk, tel. +358 40 198 2843